Ethereum classic current price

Ethereum Classic is the original open-source Ethereum network that was developed by Vitalik Buterin and Gavin Wood back in 2015. However, the new network that emerged, Ethereum (ETH), is currently the dominant one in the market. ETC and ETH were forked in July 2016. Ethereum classic value The price of 1 Ethereum Classic currently costs $22.81.

There is no staking infrastructure on Ethereum Classic as the blockchain favors a mining-based system for validating transactions. Hence, it is only possible to stake ETC if a third-party solution offers staking or yield-generating services for ETC. For instance, you can earn interest when you subscribe to the ETC staking plans on OKX Earn, available in both flexible and fixed terms. What Was the Lowest Price for Ethereum Classic? 1. Transaction Fees and Gas: ETC is used to pay for transaction fees and computational services on the Ethereum Classic network. Whenever users execute transactions or deploy and interact with smart contracts, they must pay fees in ETC. These fees are calculated based on the complexity of the transaction and the computational power required to execute it, referred to as "gas" in the Ethereum and Ethereum Classic ecosystems.

The Relative Strength Index (RSI) currently stands at 44.03, indicating a Neutral market sentiment for Ethereum Classic. Moving average (MA) of ETC USD price By combining the technology of Ethereum™ (ETH) with the philosophy of Bitcoin (BTC), Ethereum Classic (ETC) is uniquely positioned to be the base layer smart contracts platform of the future, as other chains become compromised or captured by special interests.

Receive Gold and Silver Price Updates via Email How ETC works Ethereum (ETH) is one of web3’s greatest success stories, but it wasn’t always smooth sailing for the world’s second-largest cryptocurrency. At one point, there were serious questions over Ethereum’s security, and some developers doubted the blockchain’s long-term survival. This period in Ethereum’s past was so pivotal and controversial that it resulted in the birth of a separate blockchain: Ethereum Classic (ETC).